09/06/2016 (Agence Europe) - EIB loan of €125 million to support geothermal energy in Iceland. On Thursday 9 July, the European Investment Bank (EIB) signed a loan agreement for €125 million with the Icelandic electricity company Landsvirkjun to fund the design, construction and operation of a new geothermal power station of 90 megawatts of electricity (MWe) and its geothermal wells in Theistareykir, near Husavik, in north-eastern Iceland. This is the EIB's first project in Iceland since 2011, when it lent Landsvirkjun €70 million to build the Budarhals hydropower plant in the lower highlands of southern Iceland. (EH)